AP and T yet to get nod from RBI!

The Reserve Bank of India is yet to give its nod for the proposed rescheduling of loans given to farmers in Andhra Pradesh and Telangana states.

As part of fulfilling poll promises, Andhra Pradesh Chief Minister N Chandrababu Naidu and his Telangana counterpart K Chandrasekhar Rao have initiated a process to implement loan waiver schemes for farmers.

Both AP Finance minister Yanamala Ramakrishnudu and his Telangana counterpart Rajender Etela have indicated that RBI had given a positive indication to the farm loan rescheduling in their respective states.​ ​ The RBI had earlier said that it does not support the farm loan waiver scheme as it would hurt the financial health of the banks while destroying the repayment system and strongly advised against the schemes announced by both the AP and Telangana governments.